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Posts: 786
Location: Minnesota | Anyone know what a lure line would go for? Basically I am thinking about selling my Grunt lure. Nothing bad (in fact good money) but, I am a one man show and it is taking a lot of time away from my wife and kids. Just curious if anyone has sold a lure model before. My website and some terminal tackle would also go with it. Just looking for general info on it. If I do sell it I will put it up for sale in early 2008. Might even just put it up on eBay. Can't sell right now though as I have about 300 Grunts ready to go right now that I made over the summer so far.  Thats about $10k for 2 months of weekend work!
TIA,
James |
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Location: Hastings, mn, 55033 | Price is going to depend on what sales & revenues are, product line, pre existing contracts for large orders(stores) included inventory, materials etc etc etc.
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Location: The Sportsman, home, or out on the water | Sent you a PM, Grunt. |
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Location: Oregon | I have read that the "general rule" is 3 times what the business makes in a year..........so a 10k/yr biz would go for 30k. Of course what you "actually" get is what the business is "worth".
jed v. |
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Posts: 786
Location: Minnesota | Thanks Jed. That $10k was gross. If my time was free the actual profit number was about $6500. I need to dig up my taxes to see. That is if my time is free My wife says it is actually a negative number...
James |
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| 3 to 5 times (max) of what a company profites are is somewhat the norm. If your company can't make a profit it's not worth much! |
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| My wife says the same thing James, sad part is I think she's right!! lol.
Jed V.. |
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Posts: 786
Location: Minnesota | I work for a big company to pay my bills and they usually pay 7 times profit for current year. At least that is were they start out. I am sure a lot more goes into it than just that simple calculation and I am sure chemical companies may bring more than the average small lure company... I think 3-5 would be fair for a tackle company depending on the brand recognition, future outlook, popularity, etc. All of which my lure does not have a lot going for it as it is a relatively unknown lure. Minus my yakking here
Keeping it is always an option too. I can always work less than I do and work four weekends a year and make enough to take my kids to Disney and stay in the nice resort plus flights. Not sure I can do much more to pay for a vacation like that in a short amount of time. This is fun but, after you make 200 in a row it does turn into work.
James
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Posts: 1106
Location: Muskegon Michigan | Hi James, most companies are not buying designs. You will need to find someone looking to do the work and carry on the name and all. Like the way Cady sold the Weagle and Wabull. I have had a couple of offers to sell Talonz wooden lure company. Both guys were being smart as they offered to buy before we grew into what we are becoming today. Im going to keep digging deeper into the market before I sell. Once I get my sales over $50,000.00 per year then Im going to put it on the market. With a family and another job you are up against it . I was trying to do both until last year. I dont have any kids at home and it was still tough. Watching the Video of the Grunt 16 incher running next to the Grandma lure it looks like you have winner in the design. No doubt it will put fish in the boat. Good luck and take care James. Kingfisher |
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Posts: 786
Location: Minnesota | Thanks King! You were by far the most helpful person I talked with when I started. You helped me not make a lot of mistakes. I need to see how some other things go. If I coudl get into a new home that woudl make keeping my lures alive. Just need the money now. Guess that means I need to sell soem more lures
James |
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Selling your lure line/company?